Taking a gamble

MATTHEW LYNN

Mergers are usually presented as an opportunity. Yet there is no way the possible tie-up between the...

Mergers are usually presented as an opportunity. Yet there is no way the possible tie-up between the world's two largest internet gaming companies could be spun as anything other than an act of desperation. 888 Holdings and PartyGaming have been floored by US moves to restrict online betting in that country. They are now struggling for survival after their plans were ripped up overnight. Their merger may help them weather the worst crisis in the industry's brief history, though it probably isn't necessary. Both companies would prosper regardless of the US challenge. The US stance on inte...